"Yes, I am working on clarifying an ambiguous state law that Rand Paul believes is unconstitutional if it is interpreted to bar running for re-election to the Senate and for president at the same time," Thayer told The Times. "The purpose of the bill will be to make clear that Rand Paul or anyone in a similar situation in Kentucky can run for both offices in the same year."

The senator has openly stated his interest in running for president, but the GOP contest for the nomination is expected to be competitive. Paul would be hedging his bets if he could retain his Senate seat in the event that he loses the presidential nomination.

The Washington Post noted Tuesday that Democratic VP nominees Joe Lieberman (in 2000) and Joe Biden (in 2008) were allowed by their respective states to run for vice president and reelection to the Senate on the same ballot.

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Rand Paul's Epic Filibuster

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This video frame grab provided by Senate Television shows Sen. Rand Paul, R-Ky. speaking on the floor of the Senate on Capitol Hill in Washington, Wednesday night, March 6, 2013, shortly before 10 p.m. EST. Paul was still going strong with his self-described filibuster blocking confirmation of President Barack Obamas nominee John Brennan to lead the Central Intelligence Agency. (AP Photo/Senate Television)

This video frame grab provided by Senate Television shows Sen. Rand Paul, R-Ky. speaking on the floor of the Senate on Capitol Hill in Washington, Wednesday, March 6, 2013. Senate Democrats pushed Wednesday for speedy confirmation of John Brennan's nomination to be CIA director but ran into a snag after a Paul began a lengthy speech over the legality of potential drone strikes on U.S. soil. But Paul stalled the chamber to start what he called a filibuster of Brennan's nomination. Paul's remarks were centered on what he said was the Obama administration's refusal to rule out the possibility of drone strikes inside the United States against American citizens. (AP Photo/Senate Television)

This video frame grab provided by Senate Television shows Sen. Rand Paul, R-Ky. speaking on the floor of the Senate on Capitol Hill in Washington, Wednesday, March 6, 2013. Senate Democrats pushed Wednesday for speedy confirmation of John Brennan's nomination to be CIA director but ran into a snag after a Paul began a lengthy speech over the legality of potential drone strikes on U.S. soil. But Paul stalled the chamber to start what he called a filibuster of Brennan's nomination. Paul's remarks were centered on what he said was the Obama administration's refusal to rule out the possibility of drone strikes inside the United States against American citizens. (AP Photo/Senate Television)

WASHINGTON, DC - MARCH 06: U.S. Sen. Rand Paul (R-KY) is seen on TV monitors as he participates in a filibuster on the Senate floor March 6, 2013 on Capitol Hill in Washington, DC. Sen. Paul was filibustering the Senate to oppose the nomination of John Brennan to be the next director of CIA. (Photo by Alex Wong/Getty Images)

WASHINGTON, DC - MARCH 06: U.S. Sen. Rand Paul (R-KY) is seen on a TV monitor participating in a filibuster on the Senate floor as Politco reporter Tim Mak works on his story at the Senate Press Gallery March 6, 2013 on Capitol Hill in Washington, DC. Sen. Paul was filibustering the Senate to oppose the nomination of John Brennan to be the next director of CIA. (Photo by Alex Wong/Getty Images)

WASHINGTON, DC - MARCH 06: U.S. Sen. Rand Paul (R-KY) is seen on a TV monitor as he participates in a filibuster on the Senate floor March 6, 2013 on Capitol Hill in Washington, DC. Paul is filibustering the Senate to oppose the nomination of John Brennan to be the next director of CIA. (Photo by Alex Wong/Getty Images)